Qatar to withdraw from OPEC in January

Qatar

DOHA, December 3, 2018 – Qatar will withdraw from OPEC on January 1, 2019, the country’s top energy official told a news conference on Monday.

Saad Sherida Al Kaabi, who serves as CEO of NOC Qatar Petroleum and minister of state for energy affairs, told a press conference that the withdrawal represents a “technical and strategic” shift aimed at improving the country’s global standing and supporting its long-term strategy.

Al Kaabi emphasised that the move was not political and not linked to the Saudi-led embargo launched against Qatar in June 2017.

Qatar has been an OPEC member for more than 50 years. Its withdrawal announcement comes days ahead of a meeting of OPEC and non-OPEC producers, scheduled to take place in Vienna on Thursday.

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